Regardless of whether you are creating content for TikTok, Instagram or Pinterest we all know that creativity is key, but to make money and cash in on that creativity, you may need to consider additional strategies to monetize that content and creativity.
Here are some initial strategies to consider and implement to begin monetizing your account on TikTok
Partner with brands or products you love and trust Brands of all types are looking to reach their audience, and to do so through collaborations, hence the explosion of influencer marketing. But brands don’t just want to partner with creators that have a following, but those that have built trust with their audience. Trust us, we know, we have brands coming to us all the time to find influencers to partner with. With that in mind, when choosing to partner with a brand, make sure it is one that aligns with your view and your own brand values … you do not want to compromise the relationship and trust you have built with your audience. Choose products and brands you genuinely love. While sponsored content and promoting products can be authentic and useful for your audience, don’t forget about your regular content, and what it was that originally helped to attract and build your relationship with your audience. Additional bonus … many brands have their own social media channels, and will likely re-share your post that features their product. This is a great way for YOU to be introduced to a new audience too.
Cash in on TikTok’s creator fund payouts During the summer of 2020 TikTok announced the introduction of TikTok Creator Fund, with an initial investment of $200 million USD and is expected to reach $1Billion in the next couple of years. Eligibility requires that creators have a Pro account, have at least 10,000 followers and have received at least 100k authentic video vides in the last 30 days. While TikTok has not shared the specifics about the payout structure, users who meet their specific requirements, including video engagement, views and region-specific performance, will be compensated for high performing videos. Right now the Creator Fund is only available to users based in US, UK, Germany, Spain and Italy - creators in other countries will have to wait a little longer. TikTok Creator fund is still new, and acutal payout amounts are debated, so we recommend setting realistic expectations on payouts, but it can be a great way to create passive income to the content you are already creating and investing in. In addition to TikTok Creator Fund, TikTok has also introduced other programs you may want to explore including Creative Learning Fund, TikTok LIVE streams, and the TikTok Creator Marketplace. And it goes without saying, always ensure you are abiding by TikTok’s Community Guidelines.
Sell merch to your fans You have fans, your followers, especially your most loyal fans, are people you have a connection with. Having your own branded merchandise is another way your fans can connect to you and your content. And don’t forget, having your followers showcasing your gear, whether a t-shirt, a tote-bag or other product with your channel name, creates opportunities to spread the word about your content. There are lot of companies out there that have a vast collection of merchandise for you to choose from where you can print your logo or tag line or what has come to define you onto the product, whether pillow cases, hats, stickers, notebooks — any just about anything else you can think of.
There is no one approach to monetizing your content on TikTok, Instagram or Pinterest and many of the highest earners on your favorite platform maintain a number of different and complementary income streams. Explore some of your own favorite follows, chances are they are already seeing success from brand deals or partnerships, promoting their own branded tote-bag for example, get inspired and try out some of their strategies on your own channel(s). That said, the most important thing is understanding your target audience, and focusing on your content: be authentic, be consistent, and don’t give up!
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